Helm Corporation purchased a machine with an initial cost of $80,000,a residual value of $5,000,and an estimated useful life of 10 years.At the beginning of the fifth year,Helm spent $10,000 for an extraordinary repair.Following the repair,Helm estimated that the machine had a remaining useful life of 8 years,and that the residual value was unchanged.Calculate depreciation expense on the machine for the fifth year,assuming that Helm uses the straight-line method.
A)$5,625
B)$6,875
C)$7,250
D)$7,500

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The Answer of Helm Corporation purchased a machine with an initial cost of $80,000,a residual value of $5,000,and an estimated useful life of 10 years.At the beginning of the fifth year,Helm spent $10,000 for an extraordinary repair.Following the repair,Helm estimated that the machine had a remaining useful life of 8 years,and that the residual value was unchanged.Calculate depreciation expense on the machine for the fifth year,assuming that Helm uses the straight-line method.
A)$5,625
B)$6,875
C)$7,250
D)$7,500

Helm Corporation Purchased a Machine with an Initial Cost of $80,000,a